Why is this important
The high yield on bonds (28%) reflects increased risks in the microfinance sector, but attracts investors amid declining bank interest rates. The growth of the loan portfolio by 71% over the year indicates aggressive expansion of the company, although the share of problem loans remains minimal.
What happened
- The fourth issue of bonds worth 25 billion soums passed state registration on October 21;
- Coupon yield — 28% per annum with monthly payments;
- Nominal value of one bond — 100,000 soums, circulation period — 3 years;
- Placement starts on November 5, 2025.
- Net profit for the first half of the year increased by 57.3% to 23.6 billion soums.
Financial indicators
As of July 1, 2025, Biznes Finans’s loan portfolio amounted to 163.2 billion soums, a 71.1% year-on-year increase. The share of problem loans increased insignificantly from 0.8% to 0.9%, remaining at a low level.
Context
Biznes Finans actively attracts funds through bond loans to finance the growth of its loan portfolio. The high yield on bonds (28%) compensates investors for increased risks in the microfinance sector, where the client base is less stable than in the banking sector.
The company announced plans for the fourth issue back in July 2025. A consistently low NPL share (0.9%) indicates effective risk management despite rapid business expansion. The three-year circulation period of bonds allows the company to receive medium-term financing for the development of operations.
